CHSH has announced that it provided Romanian and Austrian-law advice to Mitsubishi Heavy Industries (a constituent part (along with Hitachi and the IHI Corporation) in the joint venture that makes up Mitsubishi-Hitachi Metals Machinery), on the global joint venture between Mitsubishi-Hitachi Metals Machinery and Siemens that closed on January 7, 2015. Hogan Lovells, which was global counsel for MHI, had announced its role in the joint venture in May, 2014.
The new joint venture is called Primetals, and will be based in London. It will be a global full spectrum supplier of facilities, products, and services for the iron, steel, and aluminum industries, and will have more than 9,000 employees, with main divisional centers in Linz, Erlangen, Hiroshima, and Tokyo.
MHI, which is listed on the Tokyo stock exchange, is a multinational engineering, electrical equipment, and electronics company headquartered in Tokyo, Japan. It employs over 60,000 people worldwide. Siemens, which is listed on the Frankfurt stock exchange, is a multinational engineering and electronics conglomerate company headquartered in Berlin and Munich. It is Europe’s largest engineering company, and employs over 350,000 people worldwide.
CHSH Cerha Hempel Spiegelfeld Hlawati advised MHI as Austrian and Romanian counsel in connection with the establishment of the joint venture, in particular the transfer of Siemens VAI Metals Technologies GmbH (formerly known as Voest-Alpine Industrieanlagenbau GmbH) from Siemens to Primetals Technologies, Limited. The Austrian team at CHSH consisted of Partners Heinrich Foglar-Deinhardstein, Julian Feichtinger, and Mark Krenn, Senior Attorney Susanne Molitoris, and Associates Stephanie Sauer, Stefanie Heimel, and Christina Wieser. The Romanian team at CHSH consisted of Partner Mirela Nathanzon, Senior Attorney Zizi Popa, and Associate Anda Nicoara.
As reported previously, Hogan Lovells advised MHI as global lead transaction counsel. The Hogan Lovells team was led out of the London office by Corporate Partner Ben Higson, supported by a large cross-border, cross-practice team from over 30 jurisdictions, which worked closely with the legal and M&A teams at MHI to complete the transaction. With this joint venture both partners are forming a globally operating complete provider for plants, products and services for the iron, steel and aluminium industry. Mitsubishi-Hitachi Metals Machinery, Inc. – an MHI consolidated group company with equity participation by Hitachi, Ltd. and IHI Corporation – holds a 51-percent and Siemens a 49-percent stake in the joint venture.